A deal with a combined value of US$ 676.5 million was announced in a collective effort in the market. This included the sale of the privatised HUDC estate (Hougang) – Rio Casa and the Goh & Goh Building, a mixed-use development in the vicinity of Beauty World MRT station. This took place subsequently after the grand sale amounting to $65 million of One Tree Hill Gardens earlier this month to the Lum Chang Group. Together, these deals now match the value of transactions conducted last with giants like Harbour View Gardens, Raintree Gardens, and Shunfu Ville.

The main propeller for such development is the keen new-home sales that have been recovering with the residential property market. It is said that the Rio Casa development (Hougang Avenue 7) was sold for a sum of US$ 575 million to Oxley-Lian Beng Venture with KSH Development, Apricot Capital, Oxley Holdings, and Lian Beng Group.

According to Mr Ian Loh, Knight Frank’s head of investment and capital markets, this sale was hotly contested. The latter has been the projects market agent and said there were a few submissions for the Rio Casa development. The future for this property seems bright as the intention is to develop it with funds from a ninety-nine-year lease.

The property comprises of seven blocks that have 286 apartments and maisonettes included. It is estimated that each owner will receive two million dollars from each sale. There will be a further premium of US@ 208 million for increasing the lease to enhance the property plot ratio (gross) to 2.8. According to Knight Frank, the gross area permissible is a little over 1 million square feet.

Loh conceded that the total property is valued at US$ 1.4 billion and can house about one thousand floor hundred individual units at an estimated space of seventy square meters per unit. On another note, BBR Holdings’ Alika Properties also started their bidding for Goh & Goh Building for a sum of US$ 101.5 million. The property was built in the late eighties, the buildings located at 110 – 122 Upper Bukit Timah has seven units of shops and apartments. JLL, the market agent commented that each shop owner will fetch a sum of US$ 9 million, while the apartment owner a little over half of it at US$ 5.4 million for each unit. He also went on to say that this has the potential to increase it to one hundred apartments and one level of retail space located on the ground floor.

Commenting on all this development activity, Mr Tan Hong Boon, the regional director for capital markets at JLL said that there are twenty-five to thirty active projects that have appointed sales committees and are considering the option of collective sales.

Upcoming new launch condo in 2017

• Shunfu Condo | Marymount Condo
• Le Quest
• Margaret Drive Condo
• Martin Modern
• Hundred Palms Residences (Executive Condo)

New launch that will obtain TOP next year

• Highline Residences
• Sophia Hills
• Sim Urban Oasis
• Trilive (Freehold Condo)

Singapore – According to a letter sent by the Urban Redevelopment Authority (URA) to the real estate agencies, private residential properties may be rented out to at most six unrelated persons effective from May 15. However, the previous threshold was 8 unrelated persons. After the prescribed, the existing tenants will not be allowed to complete their rental tenure.

The letter also stated that the new occupancy rules will apply irrespective of whether the tenancy agreement expires after the implementation date. All the landlords are bound to comply with the rules while failing to comply with the rules may lead them to investigations and they may have to face legal consequences. The changes in the occupancy cap were passed in the Parliament as part of the amendment in the Planning Bill.

As per Mr. Ku Swee Yong, the International Property Advisor, the small or medium sized businesses that rent out their entire apartments to their employees or work permit holders, are most likely to get affected by this new rule.

The costs of the small businesses are likely to be increased because the businesses having 8 employees, will now have to rent two apartments instead of one. Home sharing will also suffer as part of the new rule and landlords will not be able to rent out their apartments to two large families.

This new bill will help in controlling the security situation in the country, according to the defense analysts. However, this will have a positive impact on the economy as well. The income tax on the income generated from the rental of property will increase and the government will be able to accumulate more funds.

It is also anticipated that this new rule will ignite the fire of protests and processions held by the owners of small or medium sized businesses. They are hardly able to meet their expenses and by this new rule, either they would have to refuse residency to their work permit holder workers or they would have to rent two apartments which are undoubtedly costly. Both the cases are probable. The URA, on the other hand, is studying the option of creating a new category of private homes that will allow short term rentals.

The owners of Housing Board flats, however, can allow a maximum of six subtenants for a three room unit while a four room unit can hold a maximum of nine subtenants.

Below are some new launch condos (under construction) that are selling in the market, find out more about them before they are fully sold,

• Highline Residences
• Sophia Hills
• The Orient (Freehold Development)

New Launch Condos that will be releasing for sale soon

• Shunfu Condo
• Margaret Drive Condo

One of the few vacant pieces of prime land on the island is due to be turned into a vibrant new residential district, under recently announced government plans. In a scheme similar to the one unveiled for Punggol North, one so called Master Developer will have sole responsibility for the project to redevelop Kampong Bugis, with a more or less free hand – within a broad set of parameters – to develop its own design plan. It is believed that this method achieves a greater level of integration between all aspects of the site, be they the buildings, the open spaces, public amenities and the connectivity between them all.

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You would be amazed to know that yesterday three 99-years leasehold sites were launched in the market and they can construct up to 1955 new launch condo units. It is highly likely that most of the property developers are interested in these sites because they are situated in good locations.

The first site

It has been predicted that the site of Woodleigh Lane will gain the most attention from the developers. The next important site is the Woodleigh MRT. The best thing about these sites is that they lie next to the Nex shopping mall which means that you will get all the necessities of life without much hard work.

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Moves to Increase Food Supply in Singapore

With a view to increase the food supply, the Government of Singapore has recently made an announcement. According to this new government notification, the government is extending land for new farms as the initial move in more than a couple of decades. This is done with a view to ensuring more food supply in Singapore from local sources.

Tender for 36 new plots:

Beginning in the month of August, the Agri-Food and Veterinary Authority of Singapore, shorty called as AVA will release a tender for 36 new plots of farmland in Sungein Tengah and Lim Chu Kang on a lease extending to 2 decades. The lands spread over a total of 60ha. This size is something that is equivalent to 60 football fields. However, the fresh grounds will not help with managing the farmland loss that is expected by the close of 2019. The leases of 62 local farms in Kranji and Lim Chu Kang will run out then and the military will be using the plot. Even though, no answers were given by AVA with respect to the size of the plot, but it is judged that it will be larger than 60ha. Even though, there will be a reduction the entire farmland in the country with this move, the AVA is expecting that technological advancement will help with increasing the output from fresh lands.

Who will win the bids?

It is expected that experienced farmers with excellent track records hold a better edge over other farmers. In addition, those willing to adapt to high-tech farming methods will also gain better advantage. It is all about how effectively the farmers harness the technology as against employing high-end technology in farming practices.

Employment of technology:

The Kok Fah Technology Farm has used technology with the help of which the farm has reduced its manpower requirements by nearly 30%. This is done by using automated packing, irrigation and sowing of seeds.

Move from the government:

The Government of Singapore aims at increasing the food security in the country. This should be done within the limitations of lesser land. It was announced by the National Development Minister that the local farmers can cushion themselves against disturbance in overseas supply.

The target:

The target behind these moves by the government is to have more food produced locally. For instance, it is aimed at moving 10%, 15% and 30% respectively of leafy vegetables, fish and eggs. Previous year, the local farmers managed to produce just 24% of eggs and 10% of fish for local consumption. However, the target for leafy vegetables exceeded.

Present situation:

The present situation is that just less than a single percentage of land is marked as farmland in Singapore. In total, there are 358 licensed plots for farming practices in the country. Out of this, nearly 212 are food lands, while the other are non-food lands.

Briefing sessions:

To make sure that the purpose of the tender reaches the target market, AVA conducted three briefing sessions with nearly 185 farmers at the Jurong East headquarters. Before the launching of each tender, AVA has plans to hold advisory sessions for farmers. This is to help those, who are not familiar with tender proposals. When talking about the reaction of farmers, there is mixed reaction. All of them do not show interest towards new tenders as they fear about the cost of fresh technology and financing hardships.

Being a country with limited land resources, our lands in Singapore are pretty precious. hence, a lot of locals and foreigners like to invest in Singapore Condos. Below are some popular new launch condos that have been selling well in the real estate market.

• Thomson Impressions
• Sophia Hills
• Highline Residences
• Kingsford WaterBay

Coming soon

• Hundred Palms Residences EC
• Le Quest
• Shunfu Condo | Marymount Condo

The authorities have united their powers to ensure that the animals are transferred to a safe place. It has been done to protect the wildlife from the effects of the development of forest town in Singapore.

The very first forest town in Singapore is going to be built in Tengah that is a secondary forest. So it is time to protect the animals living there and help them find a new home. The life of the animals is important and this is the reason that the government is trying to move them to an adjacent green area. Mr Desmond Lee who is the Senior Minister of State for National Development, announced this in the Parliament.

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Singaporean couples concerned about the potential future value of their HDB flat are still in a good position, stressed Lawrence Wong, the National Development Minister, despite recent comments and debate – including one started by Mr Wong himself.

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ABSD not to be imposed on the Charity Unit worth $6.6m: Court

In a recent court case, the High Court concluded that a Singapore condo unit in Goodwood Residence which had been bought for a purpose of charity should not be subjected for, the Additional Buyer’s Stamp Duty also known as ABSD. The High Court held that the amount of $986,965 along with the delayed charges paid during the last year should be fully retransferred back to the taxpayers.

The $6.6m worth unit that was bought by the charity “Chew How Teck” Charity foundation in the year 2015 was subjected to a 15% ABSD by the Commissioner of Stamp Duties. The primary objective of having cooling measures which include imposing ABSD on entities or foreigners who purchase a private residential property in Singapore was to control property values from the year 2011.

The Foundation

The charity was to trigger medical researching and financially assisting cases that encountered hardships. The foundation, founded by Mr. Chew Thong in the year 1994. On his death, according to his will, the property was let to use by his wife and eventually the ownership to be transferred to the charitable movement built with kind thoughts in his mind.

Property along Chee Hoon Avenue worth 22.8 million

In the year 2014, the High Court gave permission and authority to the executors of the will of Mr Chew to trade his property along Chee Hoon Avenue for a price of $22.8 mil and spend a portion of the money to purchase condominium unit at Goodwood Residence for Madam Zhao. The remainder would be used for charity purposes.

Even though Madam Zhao is a local and will not be subjected to a 15% ABSD, however the unit will be purchased in the name of the registered charity foundation.

In this case the trustees including the lawyer Joanna Yap Hui Min requested, appealed the High Court, challenging the decision of the Commissioner where ABSD is not required to be paid which was established with a clear charitable purpose.

Refer to link below to find out more about this dispute

http://www.straitstimes.com/singapore/courts-crime/no-absd-on-66m-unit-for-charity-court

Do note that if you are a Singapore Citizen and is looking to purchase your first residential property, you will not be affected by the ABSD. And to purchase a Singapore Condo at its most affordable price, consider getting a new launch directly from the developer. Below are our list of new launch condos whereby you can enjoy direct developer sales.

• Thomson Impressions
• Mon Jervois
• Sims Urban Oasis
• Shunfu Condo
• Highline Residences

Coming Soon

• Hundred Palms Residences EC
  
• Martin Place

The outside of your home is something that few of us can change, but when it comes to the interior, that is where we can give free rein to our creativity and personality. Though fashions and styles change all the time, there are a handful of interior design themes that are always popular in Singapore. Here we look at what those styles are, what defines each style, and how to go about recreating them in your home.

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Toa Payoh is the first satellite HDB town of Singapore that was built in 1964. It is one of the oldest towns which is to be transformed. After transformation, there will be plenty of flats. The town will contain 2 housing areas that will be public. The first site will be 10ha that is near the Caldecott MRT Station. The second will be 4ha in the Toa Payoh East near the Lian Shan Shuang Lin Monastery.

Moreover, the total number of flats is not decided yet. According to the analysts, the number of units that can fit in both the sites is 5,000. But this depends on the sizes of the flats. In present times, in Toa Payoh, there are almost 37,000 flats.

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Singapore’s excellent public transport has always been ranked one of the best in the world. Despite being just a tiny red dot in the map, the Authorities have constantly make improvements to our transport infrastructure to ensure that residents enjoy the ultimate travelling experience.

The Braddell Flyover is one of the latest road connections that will be operating soon to ease the congestion along Braddell Road. in the About four years ago, the construction of the Braddell Flyover started however, it faced many delays.

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According to many Singaporean government agencies, mechanisms have already been mapped to plan for, reduce, and monitor the noise levels.

Phase one of the project will gulp $300 million, and it will cover MRT tracks in 16 locations including Marsiling, Admiralty, Sembawang, Ang Mi Kio, Yew Tee, and Pioneer where 10km of noise barriers have been erected.

Earlier this month, the Transport Minister Khaw Boon Wan announced a shift in the completion date of the project from 2019 to 2022 as a result of the decision of the Land Transport Authority (LTA) to “review the effectiveness” of the first phase of the project.

When the second phase of the project begins in 2020, work on the installation of noise barriers for the remaining 10km will also begin.

A spokesperson for the LTA opined that the process of installing noise barriers demands a complicated and huge addition to existing railway structures because it also implies that they have to be mindful of railway maintenance works which would require a lot of space before it can be carried out and which may not always be feasible.

Coping with noise pollution.

Clementi, Bukit Timah, and Serangoon rank as one of the noisiest districts of Singapore. For this reason, at Anak Bukit Flyover and part of the West Coast Highway, noise barriers have also been erected at two expressway viaducts in continuation of the attempt to ascertain the efficacy of noise barriers.

Mixed reactions were recorded in the interviews conducted on the residents of these areas over the potency of the barriers.

Tan Liak Eng, a resident of Yew Tee, had high hopes and believed that the source of his nightmares was gone forever when he first saw the barriers installed on the MRT tracks next to his flat in 2015.

Right now, the barriers make no difference to the 61-year-old retail supervisor who has lived in Block 619, Choa Chu Kang North 7, for more than 15 years. He often shakes his head bitterly whenever he sees them. He believes the noise barriers are ineffective in curtailing the noise levels, and he asserts the noise levels are at their worst between 11 pm and 1 am when he should be asleep.

Currently, the LTA is actively searching for solutions that when used on roads, will lower the noise occasioned by the friction between vehicle tyres and road surfaces.

As these noise control measures are undergoing trials, other strategies to limit transport noise have been enforced.

Trains now have wheel noise-dampening devices. Also, the LTA has come down hard on vehicles with unauthorized modifications and that covers vehicles with modified exhausts. 1,161 of such cases occurred in 2016.

Regarding industrial areas and construction sites, the National Environment Agency (NEA) is vigilant in implementing its stated maximum acceptable noise levels.

Furthermore, any construction firm that buys or leases noise control equipment, quieter construction equipment or applies any other revolutionary noise reduction solution will get half the cost or leasing price of such equipment from the $10 million co-funding Quieter Construction Fund provided the construction industry is yet to embrace such solutions fully.

In 2012, the NEA had introduced a no-work directive on Sundays and public holidays. The directive applies to constructive sites situated within 150m noise-sensitive premises such as hospitals and homes.

The NEA spokesperson revealed that since 2012 when the directive took effect, there had been a drop from the about 19,800 all-time high construction noise-related petitions to 10,400 in 2016.

Regarding private residential buildings, HDB flats, and homes, the Urban Redevelopment Authority (URA) has stated that such properties must comply with its development control parameters.

The intent of these rules is to curtail the nuisance of noise pollution by prescribing the design and placement of rooftop electric transformers, air-conditioning ledges, and water tanks to mention a few.

The URA has also directed that a “buffer distance” ranging from 7.5m to 30m wide must exist between buildings and the road; in the case of residences near roads and expressways.

You can find out more about the measures taken by both LTA & URA to reduce noise pollution in the neighbourhood via the link below,

http://www.straitstimes.com/singapore/housing/noise-barriers-and-no-work-sundays-among-measures-taken

If peace and tranquility is one of the criteria that you are looking at when comes to buying a home, you might want to consider the new launch condos below

• Principal Garden
• Thomson Impressions
• Sophia Hills
• Highline Residences

Punggol or Ponggol, is a beautiful residential area in Singapore, located in the north-east region of the country, in the Tanjong Punggol peninsula. But this town didn’t look like this from the beginning of its times. It took several decades of evolution and transformation to create the gorgeous Punggol of today, where some of the most sought-after residences in Singapore are located. Most certainly the natural beauty and potential of the area helped it evolve so much, slowly but surely transforming the area into a modern waterfront residential city. If you are looking for a place to stay that has all the modern facilities needed for a comfortable life, while providing stunning natural views, it is worth taking Punggol into account.

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Judging by some of the things you hear and read you would assume it is essential when looking to buy a property to get one in close proximity to an MRT station. But is this actually true? Yes, there are advantages to being within a quick stroll to the rail network, but it isn’t quite as black and white as that, and those properties that are considerably further away certainly should not be dismissed out of hand.

By 2030, the MRT network will have doubled in size, increasing to a total length of approximately 360km. By then, Forth-fifth of Singapore homes will be less than 10 minute stroll to the train station. That in itself changes the dynamic, meaning that having a property near a station no longer becomes the exception, but the norm, and the definition of “near” a station will also becoming altered, and the question will start to be “just how near?” And where does that leave the remaining 20% of homes?

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Even before the opening of Changi Airport’s Terminal 4, all the talk and buzz is centered on Terminal 5. People have been talking about it for so long it already seems like a reality, though the design – or designers for that matter – has yet to be selected and it isn’t yet clear how the multi-billion dollar project will be paid for.

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